Without knowing the specific property and its offerings as well as its exact location, making a recommendation would be pure guess work and unreliable. I would go with your agent's recommendation. He/she will know the property and the area comparisons and be able to make the best recommendation.
Remember that the Case Shiller Home Price Index shows home values are the same as they were in late '04 - early '05. We, the buyers, are getting any home at today's fair market value at a good value.
From the seller's standpoint, you as a buyer see it only being down $2,100 over 8 years. EVEN if the seller gets $129,900 for the property, they would only get around $121,000 and change before paying off their mortgage. Thus, in their minds, it has decreased around $10,000 to $11,000. NOTE: That is taking into consideration the following: real estate commission, attorney fees, proration of taxes, state transfer tax, etc. that a seller is responsible for at closing.
A Realtor should do a full Market Analysis of the home that you wish to purchase. Sometimes, it is priced exactly where it should be. Sometimes it is not.
Your Realtor should have already provided you with a CMA (comps) and all the associated information to make an offer that is reasonable for a purchase of the property. Sadly, many times a buyer is taken for granted, which is so unprofesssional in the industry, thus left to their own due deligence. A profesional will be with you every step along your journey to a successful purchase!
Please have that conversation with your Realtor, or interview other Realtors to represent you.
Best of luck on your purchase!
Red Edge Realty
961-9313 ext 4
Real Estate Agent
G. Starks Realty
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Perhaps a link to the property would prove very beneficial for those who would choose to do what the agent you hired should be doing on your behalf.
Are you second guessing your agent?
After all Candance, your agent is right there and able to SEE the real estate.